Chapter 3 Flashcards
Attrition
loss of employees due to their voluntary departures from the firm through resignation, retirement or death
Canadian Occupational Projection System (COPS)
Provides up to 10 year protection of Canadian economy and human resource needs
Consultants
professionals who provide expert advice and counsel in a particular area
contract (or contingent) worker
a freelancer (self-employed, temporary, or leased employee) who is not part of the regular workforce who provides goods or services to another entity under the terms of a specific contract
crowdsourcing
the act of a company or institution taking a function once performance by employees and outsourcing it to an undefined (and generally large) network of people in the form of an open call.
Delphi technique
the soliciting of prediction about specific future events from a panel of experts, using repeated surveys until convergence in opinions occurs.
employee self-service (ESS)
a feature of an HRIS that allows employees to access and view their own records and make changes where applicable
enterprise-wide systems
link an organization’s entire software application environment into a single enterprise solution.
Extrapolation
extending past rates of change into future
flexible retirement
programs that provide retirees with the opportunity to work after they have retired and provide them with significant flexibility in terms of how they work, what they work on, and when they work, and where.
Forecasts
estimates the future resource needs and changes
full-time employees
work 37.5 to 40 hours in a workweek
human resource accounting (HRA)
a process to measure the present cost and value of human resources as well as their future worth to the organization
human resource information system (HRIS)
gathers, analyzes, summarizes, and reports important data for formulating and implementing strategies by HR specialists and line managers.
human resource planning
a process used to determine future human resource requirements by anticipating future business demands, analyzing the impacts of these demands on the organization, determining the current availability of human resources, and making decisions on how to effectively acquire and utilize firms’ human resources.
Indexation
a method of estimating future employment needs by matching employment growth with a selected index, such as the ratio of production employees to sale
Intranet
an organization-specific internal computer network
job sharing
a plan whereby available work is spread among all workers in a group to reduce the extent of layoffs when production requirements cause substantial decline in available work
labour market analysis
the study of a firm’s labour market to evaluate the present or future availability of different types of workers
labour shortage
insufficient supply of qualified talent to fill the demand for labour
management or leadership inventory
comprehensive reports of available management capabilities in the organization
manager self-service (MSS)
a feature of an HRIS that allows managers to view and access their employee’s records and add relevant information.
Markov analysis
Forecast of a firm’s future human resource supplies, using transitional probability matrices reflecting historical or expected movements of employees across jobs.
nominal group technique
a focus group discussion where members meet face-to-face, write down their ideas, and share them. All new thoughts on a topic are recorded and ranked for importance
Outplacement
assisting employees to find jobs with other employers
part-time employees
persons working fewer than the required hours for categorization as full-time workers and who are ineligible for many supplementary benefits offered by employers.
people equity
how organizations measure and manage their human capital to maximize its value
phased retirement
gradual phase into retirement with loss or reduction of pension benefits
predictive analysis
the process of selecting, exploring, analyzing, and modelling data to create better business outcomes.
replacement charts
visual representations of who will replace whom when a job opening occurs
skills inventories
summaries of each worker’s skills and abilities
staffing table
a list of anticipated employment openings for each type of job
talent management
a systematic attraction, identification, development, engagement / retention, and deployment of those individuals with high potential who are of particular value to the organization
transition matrices
describes the probabilities of how quickly a job position turns over and what an incumbent employee may do to forecast period od time, such as stay in the current position, move to another position within the firm, or accept another job in another organization
work arrangement
a firm’s use of the work hours, schedules and location to ensure that the goals of the organization and the needs of employees are optimally met.
